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Eric Benevich, the Chief Commercial Officer of Neurocrine Biosciences Inc (NASDAQ:NBIX), recently sold 1,207 shares of the company’s common stock. The shares were sold at an average price of $152.94, totaling approximately $184,598. The transaction comes as Neurocrine, with its $15.4 billion market cap, trades near its 52-week high of $157.98. According to InvestingPro analysis, the company maintains a GREAT financial health score, though it currently trades at a premium to its Fair Value. This transaction was part of a pre-established Rule 10b5-1 trading plan, which Benevich adopted in September 2022. Following this sale, he now holds 41,919 shares of the company.
In addition to the sale, Benevich acquired 2,294 shares through the vesting of Restricted Stock Units (RSUs), bringing his total shares owned to 43,126. The RSUs were part of a grant awarded in January 2022, which vests annually over a four-year period.
In other recent news, Neurocrine Biosciences has seen positive developments in its pipeline and partnerships. Stifel analysts have maintained a positive outlook on the company’s stock, following an amendment to Neurocrine’s partnership with Takeda on the AMPA program, allowing Neurocrine full worldwide development and commercial rights, except in Japan. Oppenheimer reiterated its Outperform rating on Neurocrine Biosciences, highlighting the FDA approval of Crenessity for the treatment of congenital adrenal hyperplasia (CAH) as a pivotal event.
Neurocrine Biosciences has also sponsored a supplement in The Journal of Clinical Endocrinology & Metabolism focusing on CAH, a rare genetic condition. This supplement features eight review articles that delve into the multifaceted challenges faced by individuals with CAH. Piper Sandler expressed continued confidence in Neurocrine Biosciences, reiterating an Overweight stock rating. The firm’s analyst highlighted the promising feedback from a leading endocrinologist regarding Neurocrine’s newly launched drug Crenessity.
Lastly, Neurocrine Biosciences has shared insights on the challenges of treating classic CAH with traditional glucocorticoids and the promise of new non-GC therapies. These developments represent a series of recent advancements for Neurocrine Biosciences in the biopharmaceutical market.
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